Nifty view sept 21

Gm

Today, while updating this SGX nifty is trading at 5565.

Today’s trading levels for Nifty Future:

Resistance: 5579-5611-5640-5670-5702

Support: 5562-5530-5503-5463-5454

Today 5579 will be an important level for NF. To indicate strength of bears, NF should not cross 5579. On crossover above 5579 will take NF to 5611, a good resistance. On crossover above 5611 NF will go up to 5640, a strong resistance for NF. Bears will give their best to protect this level.

On lower side, 5562 is a good support. If NF manages to break 5562 with volumes and sustains below it then also there is a strong support of 5530-5503 for NF. Bears will need lots of power to break these levels. If bears manage to break these levels then expect some serious problem for bulls. Below 5503, expect not stop fall up to 5463-5454.

Till NF is above 5530-5503, there is no problem for bulls.

In last week NF has given some surprisingly sharp up moves. This kind of move happens in two extreme scenario, either we have entered in a long term up move which will cross previous high of 6349 or we are going to make a critical top before going down to/below 4000 or more lower level.

Alert: Chinese Shanghai composite index is around 3years low and no one is discussing about it. Day by day china’s Shanghai composite index is making new lows, why??????

Regards,

Analysenifty Team